"Roberto Cavalli is not for sale" says owner as it moves to quash speculation
See catwalk
Owner DAMAC Group, said it was 'addressing recent speculation in the press about Roberto Cavalli ' and wanted to give a 'clear assurance about the future of the business'.
It added: 'Since acquiring the Roberto Cavalli business in 2019, DAMAC have invested significantly in the growth and success of the company. Roberto Cavalli is not for sale. As before, we remain interested in strategic partners who can add value to the business.'
The statement came after the company last month said it was assessing the 'strategic partnerships' referred to in today's statement as part of its growth options as Italian media began to speculate about a potential sale.
Cavalli has faced the same challenges that have hit the rest of the luxury sector in recent years but has been busy this year opening new boutiques and launching regular collections as well as collaborations. This year alone those new stores have included Ibiza, Dubai Mall and Los Angeles, while collabs have included SKIMS and LeSportsac.
Launched in 1970, the label's founder died a little over a year ago. The company had been bought just before the pandemic by DAMAC, which is a multi-billion-dollar business conglomerate founded and headquarted in the UAE by Hussain Sajwani. The parent company also invests in luxury real estate, capital markets, hotels/resorts, manufacturing, catering, and data centres.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
11 hours ago
- Fashion Network
Burberry tops list of UK M&A targets in new Bloomberg survey
In Burberry's case, there are signs that the brand is beginning to deliver on its turnaround plan under Chief Executive Officer Joshua Schulman. After back-to-back annual declines of 30%, the stock has risen 32% in 2025. According to Emmanuel Valavanis, an equity sales specialist at Forte Securities in London, Burberry's brand equity could be attractive to a larger luxury group 'not afraid to pay up for bolt-on growth and an iconic label.' However, the transformation is not yet complete. 'Burberry's renewal effort still needs more work,' said Graham Simpson of Canaccord Genuity Quest, adding that a potential suitor would likely focus on extracting synergies. BP Plc and Anglo American Plc also featured among the leading UK takeover candidates, consistent with their inclusion in a similar January survey. Rightmove Plc, the online property portal, received four mentions after drawing multiple bids last year from Rupert Murdoch's REA Group. UK dealmaking 'roared back' in the second quarter, said Patrick Sarch, head of UK public M&A at law firm White & Case LLP, in July. 'We anticipate more bids for UK companies from US and corporate bidders, and that the financial services, infrastructure, natural resources, and tech sectors will continue to be active,' Sarch added. Outside the UK, the recent trade agreement between the European Union and the United States is expected to 'encourage corporates to go ahead with planned transactions,' according to Eric Meyer, head of RBC Capital Markets in Paris. Among continental names, Carrefour SA was a frequently mentioned target, cited four times by respondents. The supermarket chain is currently reviewing its portfolio to improve its valuation and recently divested its struggling Italian business. European banking M&A also remains active, continuing a trend from 2024. Commerzbank AG was again a popular name in the latest survey. UniCredit SpA, which has expressed interest in acquiring Commerzbank, increased its stake to about 20% this month. The move makes UniCredit the bank's largest shareholder, overtaking the German government, which remains opposed to a takeover. 'Bank deals are becoming more complicated,' said Nicolas Marmurek, co-head of special situations at Square Global Markets. 'Successful bidders will need strategy, timing, and just the right dose of political finesse.'
Fashion Network
11 hours ago
- Fashion Network
Burberry tops list of UK M&A targets in new Bloomberg survey
In Burberry's case, there are signs that the brand is beginning to deliver on its turnaround plan under Chief Executive Officer Joshua Schulman. After back-to-back annual declines of 30%, the stock has risen 32% in 2025. According to Emmanuel Valavanis, an equity sales specialist at Forte Securities in London, Burberry's brand equity could be attractive to a larger luxury group 'not afraid to pay up for bolt-on growth and an iconic label.' However, the transformation is not yet complete. 'Burberry's renewal effort still needs more work,' said Graham Simpson of Canaccord Genuity Quest, adding that a potential suitor would likely focus on extracting synergies. BP Plc and Anglo American Plc also featured among the leading UK takeover candidates, consistent with their inclusion in a similar January survey. Rightmove Plc, the online property portal, received four mentions after drawing multiple bids last year from Rupert Murdoch's REA Group. UK dealmaking 'roared back' in the second quarter, said Patrick Sarch, head of UK public M&A at law firm White & Case LLP, in July. 'We anticipate more bids for UK companies from US and corporate bidders, and that the financial services, infrastructure, natural resources, and tech sectors will continue to be active,' Sarch added. Outside the UK, the recent trade agreement between the European Union and the United States is expected to 'encourage corporates to go ahead with planned transactions,' according to Eric Meyer, head of RBC Capital Markets in Paris. Among continental names, Carrefour SA was a frequently mentioned target, cited four times by respondents. The supermarket chain is currently reviewing its portfolio to improve its valuation and recently divested its struggling Italian business. European banking M&A also remains active, continuing a trend from 2024. Commerzbank AG was again a popular name in the latest survey. UniCredit SpA, which has expressed interest in acquiring Commerzbank, increased its stake to about 20% this month. The move makes UniCredit the bank's largest shareholder, overtaking the German government, which remains opposed to a takeover. 'Bank deals are becoming more complicated,' said Nicolas Marmurek, co-head of special situations at Square Global Markets. 'Successful bidders will need strategy, timing, and just the right dose of political finesse.'
Fashion Network
15 hours ago
- Fashion Network
Armani faces $4m fine over unfair commercial practices
Italy's antitrust regulator has fined fashion group Giorgio Armani and one of its subsidiaries €3.5 million ($4 million) for unfair commercial practices, it announced on Friday. The Giorgio Armani group has rejected the accusation and confirmed it will appeal the ruling. According to the regulator, the two companies 'issued misleading ethical and social responsibility statements in contrast with the actual working conditions found at suppliers and subcontractors.' The authority noted that Armani outsourced most of its bag and leather accessory production to third-party manufacturers. These external suppliers, in turn, subcontracted to other producers — some of which employed workers illegally and failed to meet health and safety standards. The watchdog said that while Armani promoted sustainability as part of its marketing strategy, those claims did not reflect conditions within parts of its extended supply chain. The case first surfaced last year when Italian prosecutors placed one of Armani's units under judicial administration — a measure that was later lifted in February. In an official statement, the Giorgio Armani group said it expressed 'disappointment and bitterness' at the regulator's decision and intends to appeal the ruling before an Italian regional administrative court. '[The group] has always operated with the utmost fairness and transparency toward consumers, the market, and stakeholders, as demonstrated by the group's history,' the company said. Last year, Italy's competition authority launched a similar investigation into LVMH -owned Dior to examine whether the French fashion house had misled consumers. Dior reached a settlement in May, agreeing to several remedies that the regulator deemed sufficient to avoid sanctions. Earlier this year, Italian authorities also placed cashmere specialist Loro Piana and a unit of luxury brand Valentino under judicial administration due to labor abuses uncovered in their supply chains. ($1 = €0.8753)
